News
Mar 24 2015
Senator Blunt Reintroduces Carbon Tax Amendment
WASHINGTON D.C. – U.S. Senator Roy Blunt (Mo.) introduced an amendment to the FY2016 budget today to protect families in Missouri and across America from a carbon tax, which would lead to skyrocketing energy costs for families nationwide. Blunt’s amendment, which is co-sponsored by U.S. Senator John Thune (S.D.), would create a Point of Order against any bill that contains a tax or fee on carbon emissions from sources that are direct or indirect sources of emissions. To read the text of the amendment, click here.
Blunt introduced a similar carbon tax amendment in May 2014 during the Energy Savings and Industrial Competitiveness Act debate; in April 2014 during the unemployment insurance bill debate; and in March 2013 during the FY14 budget debate. Missouri relies on coal for more than 80 percent of the state’s electricity needs, according to the Energy Information Administration (EIA).
“In states like Missouri, which relies overwhelmingly on coal for affordable energy, the Obama Administration’s flawed energy agenda hurts low-income families and young people the most,” said Blunt. “This amendment will help stop any legislation from coming through the Senate with a carbon tax, and send a clear signal to the Obama Administration that Americans simply cannot afford to pay higher utility bills resulting from these burdensome policies.”
“A carbon tax would not only provide a hurdle to American industries struggling to make a comeback, but the costs it would pass on to consumers would be a major blow to families and businesses on main street,” said Thune. “We need to take advantage of our affordable domestic energy sources as we build our economy and continue to develop renewable and reliable alternatives.”
According to a 2013 report by the non-partisan Congressional Budget Office (CBO), Missouri electricity rates could increase by close to 30 percent if a price were put on carbon. A 2012 Consumer Expenditure Survey by the Bureau of Labor Statistics (BLS) found that more than 40 million American households earning less than $30,000 per year spend an average of 20 percent or more of their family budget on utility bills. A 2013 study by NAM found the overall impact of a carbon tax on American jobs would be staggering, with a loss of worker income equivalent to between 1.3 million and 1.5 million jobs in 2013 and between 3.8 million and 21 million by 2053.